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food prices
US Expects Bigger Corn Crop to Ease Food Inflation
By not in system - AOL NewsST. LOUIS -- U.S. farmers are expected to boost the size of this year's corn crop, potentially easing global food inflation. The Agriculture Department reports that farmers intend to plant 92.2 million acres of corn this spring, a 5 percent increase over last year. That would make it the second-biggest corn crop since 1944, after a record-setting planting in 2007. Grain prices are at their highest levels since the food crisis of 2008. New production will help ease concerns over a supply pinch. Worries over a shortage have doubled the price of corn since last summer, from $3.50 to more than ...
Mideast Turmoil Risks Fueling Record Global Food Inflation
By Joseph Schuman - AOL NewsGlobal food prices rose for an eighth straight month on the back of a tightening supply of wheat and other cereal crops, and the current spike in oil costs could drive record prices even higher, the United Nations' Food and Agriculture Organization warned today. The FAO's food price index climbed 2.2. percent in February, with the costs of every food group but sugar showing an increase, the agency said. Food prices are now at the highest level since the U.N. began to measure them, both in real dollar terms and adjusted for inflation. Ted Aljibe, AFP / Getty Images A customer, ...
Are Record Food Prices Fueling Global Instability?
By Dave Thier - AOL NewsFood prices are rising, warns the United Nations Food and Agriculture Organization, and the implications for global stability could be dire. According to the FAO, the monthly food price index rose 3.4 percent in January to the highest it's been since the organization started compiling the index in 1990. And it's only expected to continue to rise in the coming months. Experts fear that the increasing pressure on food prices is one of the root causes of the widespread uprisings in the Middle East, and if the U.N.'s prediction of a continued rise holds true, that trend will get ...
UN Report Predicts Food Prices Will Rise in 2011
By Dave Thier - AOL News(Nov. 17) -- Between wildfires, floods and drought, it's been a bad year for grain production worldwide. Now, a new report from the United Nations Food and Agriculture Organization predicts a bleak year for people around the world struggling with hunger. The report predicts that food prices will rise due to unfavorable weather, declining production and rapidly diminishing cereal stocks. The people who will ultimately pay the price will be the consumers. The FAO worries that food prices could even rise to the levels they were at during the world food crisis of 2008, when hungry citizens across ...
Australian Scientist Warns of Looming Global Famine
By Dave Thier - AOL News(Sept. 14) -- At an international agricultural biotechnology conference in Canada, an Australian scientist and journalist gave a dire keynote address Monday, warning global governments to pay greater attention to the possibility of coming global famine. "This is a big issue -- it is the biggest issue, it is bigger than the global financial crisis, and it is more urgent than climate change because it's going to happen quicker," Julian Cribb told his audience at the Agricultural Biotechnology International Conference, according to The StarPhoenix. "Worst-case scenario is that you will see ...
Russian Drought Spurs Worldwide Food Price Hikes
By Scott Martelle - AOL News(Sept. 1) -- Severe drought in Russia has sent world food prices 5 percent higher in recent months, according to a new report by the United Nations, and though they remain well below the record levels reached during the 2007-08 world food crisis, the higher prices have already fueled deadly riots in Mozambique. Today police in the capital, Maputo, opened fire on a mob of several thousand people -- some of them throwing stones -- in what officials said was an unsanctioned protest over the rise in food and commodity prices. The Associated Press reported that at least seven people were killed, ...
Bush Vetoes Farm Bill
By Mark Impomeni - Politics DailyIn what is likely to prove an academic exercise, President Bush followed through on a threat and vetoed the recently passed 2008 Farm Bill. The $307 billion bill, officially titled the "Food, Conservation, and Energy Act of 2008," extends many of the incentive and subsidy programs established in the 2002 Farm Bill in an era of rising food prices and farming incomes. The president cited both in his veto message to Congress.At a time of high food prices and record farm income, this bill lacks program reform and fiscal discipline. It continues subsidies for the wealthy and increases farm bill ...
One Veto Threatened, One Threat Withdrawn
By Mark Impomeni - Politics DailyThe White House issued a statement late today saying that President Bush has decided to veto the 2008 Farm Bill if it makes it to his desk in its current form and recommended that Congress pass a one-year extension of current farm policy to bridge the gap until the next Congress and Administration can consider another bill. Almost at the same, the White House said that the president would withdraw his threat to veto an bill containing a provision that would stop the government from filling the nation's Strategic Petroleum Reserve in a bid to increase oil supply on the world market and lower ...
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